Mitt Romney unapologetically destroyed thousands of jobs for his own gain for 40 years with Bain Capital. Now he's being framed as some kind of moral warrior, for the act of... retiring?
Mitt Romney unapologetically destroyed thousands of jobs for his own gain for 40 years with Bain Capital. Now he's being framed as some kind of moral warrior, for the act of... retiring?
In “Romney: A Reckoning,” we get an intimate view of a man trying to reconcile faith and politics.
cross-posted from: https://lemmit.online/post/1189194
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The original was posted on /r/antiwork by /u/bigassbunny on 2023-10-24 03:46:03.
Hi, Overton window? Can you hear me? You're moving too fast!
Mitt Romney and Liz Cheney are great, when compared to the rest of the party. Let that sink in. That's how low the bar is now.
Anyone remember the time that Toys R' Us decided to take out a gigantic loan to pay off the "management fees" of Bain Capital for the fine virtue of being managed into the fucking ground?
I do.
They killed Kay-Bee toys as well!!!
Is that why they went bankrupt back then? Man, what fuckers.
More or less.
Bain (with Romney at the helm) became masters of the leveraged corporate buyout. That means they use loans to purchase a company. Those creditors would be paid back through bain's revenue which is made up of management fees from the companies it bought. Then Bain would send in managers to make the company look awesome by boosting revenue and reducing expenses. (You can recognize this when private equity buys something and suddenly one guy is doing the work of four - while the assets are liquidated around him.) Bain uses this performance to say to creditors - look how awesome they're doing - give us a loan! So they take out an enormous loan and pay all of that money to themselves and let the former shell of the company collapse around them.
The horribly shitty thing about it is everyone talks about capitalism like it is zero-sum. That's really not true - economies work together and create new wealth out of our labors. Well, Bain is zero sum. Their money comes from taking from others. That kind of business is fucking evil. Bain is fucking evil. Mitt Romney is fucking evil. People who associate with him (the Mormon Church that enabled him, the Republicans that idolized him) are a mixture of fucking evil and stupid.
This isn’t exactly new or unusual. Look how suddenly everyone acted like John McCain wasn’t a treasonous shitbag when he died
Or pretending George W. Bush was some sort of reasonable centrist.
A political moron with terrible ideas, yes. But I think treasonous is the wrong word, which is what sets him apart from his comrades in the republican party.
It's not that people remember him as someone they would have liked to vote for, but he was over of very few republicans to speak out against trumpism.
Sort of like how Romney was one of few republicans recognizing the election result. It has just gotten to a point where we expect the worst from these people, and it's somehow worth celebrating when they defy our expectations.
I think it's more an attempt at positive reinforcement, if anything. When you've got a bad dog you're trying to train, you fixate less on punishing the bad behavior and rewarding the good behavior.
Too bad these people are worse than dogs.
I was more referring to his actions while he was a PoW and other various things than his tenure as a politician but that didnt help much either